Availing themselves of the prosperity of the logistics industry, forklift enterprises flourish everywhere. Disorderly development and price war have led the forklift industry into the bloody “red sea”, which will be further worsened by excess capacity. Competition pattern shows that low-to- medium-end IC vehicles with the greatest demand will have to face a more brutal situation of low-price and homogeneous competitions. With the decline in profits, some players mainly dependent on IC forklifts find themselves in a tougher situation.

On the other hand, sequential high growth of the forklift industry has resulted in higher growth rate and share of electric products. Association data show monthly sales have keep growing by over 20% for four consecutive months starting from August 2016. Cumulative sales from January - November 2016 topped 337,000 sets, up by 11.52% compared with the same period of last year. By product, cumulative sales of electric forklifts from January - October amounted to 113,600 sets, indicating a year-on-year growth of 15.67% while the same of IC forklifts to 190,500 sets, up by 6.59%. Growth rate of electric products is higher than that of IC ones. The increasing demand of logistics for storage and delivery has triggered a higher sales growth of electric forklifts than IC ones, further increasing the share of the former. The industry is transmitting from the IC forklifts to electric. According to BYD, electric forklifts will take a market share of over 50% within the next 3-5 years.

As a new comer to the industry since 2010, BYD has been following the industry trend, holding fast to “green development” and leading industrial vehicles to the direction of energy conservation, high efficiency, green and environmental protection; it has created a new commanding height of the industry and is hailed as “the most shining star” of the industry.

Distinctive advantages of BYD electric forklifts have consolidated its sharp rise in the market of keen competition. Building up on the battery technologies, BYD’s got unrivalled advantages in this regard. Compared to lead-acid battery forklifts, lithium battery forklifts’ advantages in performance will help BYD go farther. According to Bi Guozhong, General Manager of BYD Forklift Division, increasing capacity of lithium batteries will greatly reduce its cost, enabling them to replace lead-acid batteries in the domestic electric forklift sector (in particular counter balanced forklifts).

In the 2017 annual business conference, Bi analyzed the changes in the forklift industry. “Currently, both market environment and industrial layout are emphasizing transformation. We are seeing changes in products, technologies and user reviews”, said Bi, “In the past year, BYD has been engaged in systematic investment, mechanism-based studies and specialized teamwork that returned us with a stable performance of 3,000 sets”. Besides, he also revealed the sales target of 10,000 sets in 2017.

To BYD, such a target indicates opportunity rather than challenge and motivation more than pressure.

First, share of electric forklifts will rise gradually. On one hand, such advantages as less pollution and low noise of electric forklifts imply large market space in warehousing logistics, wholesale and retailing as well as food and medicine; on the other hand, intensified efforts in environmental protection, energy conservation and emissions reduction, technological advancements and cost reduction will gradually highlight the advantages of electric forklifts.

Secondly, from the perspective of products, BYD keeps forward thinking, innovative R&D and automatic manufacturing and is exercising more environment-friendly, efficient, energy-saving, intelligent and stable development. Iron batteries independently developed and equipped by BYD are totally free of serious pollution, long charging cycle and complicated maintenance intrinsic with traditional lead-acid batteries, without the need for specially built charging rooms.

This very trump card makes BYD Electric Forklift unrivalled in the industry. It has been well received by customers and has won eye-catching awards since 2016, such as “Famous Brand of Green Warehouse and Delivery 2016”, “Model of 1st China Industrial Vehicles Innovation Award”, “CITIA China Industrial Vehicles Innovation Award”, “2016 China FMCG and Retail Best Logistics Provider”, “Excellent Enterprise Award of MM’s 20 Years of Drive Innovation”, “2017 Logistics Technology Innovation Award”, “Brand of Recommendation of 2017 Logistics Technologies and Equipment” and “Best Provider of China E-commerce Logistics”. In addition, the company has clinched the IFOY Annual Award, the “Oscar Awards” in the forklift industry, setting itself a benchmark of global new energy forklifts.

Last but not least, BYD Forklift is applicable to diversified areas. In food supply chain, zero pollution of BYD iron battery forklift in the production process and zero emission in the application have avoided exhaust pollution of diesel forklifts, and pollution of acid mist by traditional lead-acid battery forklifts to food and drinks and hazard to human bodies, thus ensuring green and environmental working conditions and safe handling of food. Early in 2014, BYD electric forklifts had been well recognized by the cold chain industry and won the Excellent Application Case Award of the “Gold Chain Awards”, reflecting its strengths.

Besides the food industry, BYD Forklift also provides precise services for paper-making, feed, manufacturing, home appliances production, auto and parts, petrochemical and logistics, and other industries with high requirements for handling, such as tobacco and ceramics, leading logistics handling operations of all major industries to a road of green development. Since its launch into the market, BYD Forklift that has been holding the concepts of indigenous innovation and customer orientation, has been constantly providing optimized green logistics solutions.